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Setting a Bonus-Malus Scale in the Presence of other Rating Factors

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  • Taylor, Greg

Abstract

The operation of a bonus-malus system, superimposed on a premium system involving a number of other rating variables, is considered. To the extent that good risks are rewarded in their base premiums, through the other rating variables, the size of the bonus they require for equity is reduced. This issue is discussed quantitatively, and a numerical example given.

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  • Taylor, Greg, 1997. "Setting a Bonus-Malus Scale in the Presence of other Rating Factors," ASTIN Bulletin, Cambridge University Press, vol. 27(2), pages 319-327, November.
    • Handle: RePEc:cup:astinb:v:27:y:1997:i:02:p:319-327_01
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    Cited by:

    1. Oh, Rosy & Lee, Kyung Suk & Park, Sojung C. & Ahn, Jae Youn, 2020. "Double-counting problem of the bonus–malus system," Insurance: Mathematics and Economics, Elsevier, vol. 93(C), pages 141-155.
    2. Tan, Chong It & Li, Jackie & Li, Johnny Siu-Hang & Balasooriya, Uditha, 2015. "Optimal relativities and transition rules of a bonus–malus system," Insurance: Mathematics and Economics, Elsevier, vol. 61(C), pages 255-263.
    3. Tan, Chong It, 2016. "Varying transition rules in bonus–malus systems: From rules specification to determination of optimal relativities," Insurance: Mathematics and Economics, Elsevier, vol. 68(C), pages 134-140.

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